GOLDEN CROSS, SPROTT TO SUE BANKS, NEW DANGERS, SILVER

from KingWorldNews:

Sprott: “The biggest danger is that the financial system is over-levered. And perhaps at this point I might even mention one of the most ludicrous things I’ve ever seen….

“It was suggested by the Bank of England that should an important bank not be able to meet its derivative demands because it has a losing position, that claims on that bank be suspended — that entities wouldn’t be allowed to make a claim on those derivative losses.

“It’s like being in a fantasy land. You lose money but you are not allowed to claim from the guy because he could go down. Of course I know the reason they don’t want anybody to go down: Ever since Lehman Brothers they’ve abandoned the word ‘liquidation’ because they saw what a liquidation could do.

Eric Sprott Audio Interview @ KingWorldNews.com